every positive you thought existed up until the moment the cash raise was announced still exists
and now the undefined cash need overhang is gone
this IS a small deal, for dilution purposes, and will be readily absorbed by market
let it play out
some of us here have seen many many many cash raises
this one is a near nothing
timely close of cash raise and announcement of terms
"surprise/disappointment" is a common reaction to cash raises, even when you know company needs cash and told you it was going to do a cash raise
in the world of cash raises, this raise should IMO be in the "well received/obvious" category
it will be max 3,125,000 shares
and plenty of that stock will go to longs and not shorts
it was the last real overhang for purposes of a quick short cover
and its aint much of a cover
they are having a field day on bmrn slides on twitter
the failed P3 slide is brutal, as it tracks the placebo literally perfectly
sorry, but I still fear his intellect
and I feel like I knowz him but I just cannot figure out from wherez
I admit there is still one in-depth, almost bullet proof, short argument I fear
here it is:
"i mean if Eteplirsen actually cured DMD it'd b one thing, but this 150 meter improvement iz just BS"
this from one of my favorite tweeters, nobullshytrader
I feel like I know him, but I am just not sure from exactly where
look at this quote!!!!!!!!!!!!!
"The same "we talked too soon about our FDA meeting" setback has hit Sarepta Therapeutics (SRPT - Get Report) and AcelRx Pharmaceuticals (ACRX - Get Report) recently.
AF, you are now in the dooooooooooooh bucket
did cramer get mad when you said srpt was approvable yesterday?
you are waaaaaaay too smart to suggest what you did today by accident
quadruple bush league, times infinity
AF, I am in shock AGAIN at your latest article
you mentioned srpt in a way which clearly suggests that srpt has had a RECENT bad experience with the fda!
there is NO way that was an accident or oversignt
what a disgrace
you really shock me
its time to get serious here
"As a reminder, the agency has recently laid out guidance of the use of historical controls and we believe these data fit the criteria"
Wedbush this am, on upgrade with new PT of $56
much bear talk yesterday about how srpt fabricated new control group
in reality, the new control group met fda guidelines and was directly discussed by company and fda in advance of formulation
the switch from mitt to itt did not hurt either for purposes of the fda crafting a NON precedent setting AA structure
frightening to my core
the attempted negative spins are priceless
now, the new thing is "if they had just done a real P2, they would need to create a placebo cohort after the fact, and the fda will never accept this"
apparently, these folks missed all the discussions about how srpt did it all with direct fda involvement
my wallet wants the stock to go to $1400, today, right now
but regardless of where the stock trades today, tomorrow, or the next day ...
I think that there has been a tectonic shift in the risk/reward analysis here, heavily shifted to reward
if the stock was $75, maybe less so, but at the high 30s?
I can no longer fathom a reasonable basis, assuming no new bad data from now til year-end, how this stock does not get through adcom and then fda approval